u/Vent_Vert

I am 43. I got divorced last year, and have since designated my 4 children (the eldest is now 16, youngest is 7) as equal beneficiaries in all my accounts (401k, IRAs, taxable brokerage, life insurance through employer) and a house I just bought with a 30-year mortgage.

At what point do I need a will and/or a trust? What else do I need to know to plan in case something happens to me?

I was completely naive when I first separated a few years ago from my ex-husband, and want to be more savvy this time around as I plan my future.

Ex and I have a joint custody, though on tense terms and dislike each other. He is pretty wealthy and has his own money and real estate. I don’t have any other extended family.

I do have a serious partner who lives with me; only my name is on the title of the house and partner is not listed as a beneficiary anywhere. At this point he and I keep our finances separate, with him paying me a set amount of rent every month and taking turns on groceries.

Also, in case this matters: my total net worth (home and accounts) is still under $1m.

Per my investment philosophy which aligns with Bogleheads, I am invested only in low cost index funds for 95% of my portfolio. The remaining 5% I have in thematic ETFs of high conviction for my “play money” in my Roth IRA and they are doing very well!

I know I’m supposed to take profits and move them to low cost index funds. How often is it recommended to do this? What do other Bogleheads (who hold stocks/or non-Bogle funds) do? Do you just remove the principal and then let it ride?

It seems like so much financial advice these days is about how buying a home is NOT a good investment. And I just bought a home. I can afford it, I live in a place with VHCOL and a housing crisis. But I probably would make more renting and investing in the stock market. How do I feel ok about my decision?